On Friday, AGL announced it would push back the closure of the 50-year-old plant to 2023 to meet energy demands over the summer months. He stood firm on the timing of the shutdown of the Liddell coal power station in NSW, committing to the closure of the last three units at the end of the 2022-23 summer. “Just like the Government efforts to prolong the retirement age of Australians, AGL has been pressured to keep one of its oldest and most unreliable power plants operational for another year. The three-phase plan includes an upgrade of the nearby Bayswater power plant, building 1600 megawatts of renewable generation capacity and 250 megawatts of battery storage over five years. The plant would deliver 1GW of dispatchable energy, replacing Liddell power station after it closes in 2023. The closure of the Liddell Power Station has been the subject of immense attention, including the prospect of the Federal Government intervening to force the sale of the power station to a third-party to keep it operating. We remain in constructive dialogue with AGL about this, and this is a good short-term announcement," he said. Closing Liddell power station would lift NSW wholesale power prices by more than a quarter but the effects would decline as more capacity entered the market, according to a leaked report. AGL received a bid from Alinta Energy to acquire the power station, following pressure from then prime minister Malcolm Turnbull and energy minister Josh Frydenberg. The taskforce found Liddell’s closure was likely to increase average wholesale electricity prices, but not as significantly as the rise experienced when Victoria’s Hazelwood plant shut in 2017. The resolution, for AGL to commit to a transition plan for emissions in line with the Paris accord, was supported by influential proxy advisor ISS Corporate Governance. AGL Energy will be closing the Liddell coal-fired power station in 2022, resulting in a 1000MW shortfall of energy. AGL confirmed its guidance for underlying earnings for 2019-20 of between $780 million and $860 million, down from last year. "What we can say is that the electricity forward markets are not expecting the prices that this report alludes to," Dr Mountain said. AGL Energy has buckled in its resolve to shut the ageing and highly polluting Liddell coal-fired power generator on its scheduled use-by date of 2022, announcing on Friday that it will delay the closure of the New South Wales plant to April 2023. Fergus Hunter is a crime reporter for The Sydney Morning Herald. It stressed the modelling of prices was indicative only, and not certain. In its response, the Morrison government said it accepted six of the taskforce’s recommendations, but it would “not risk the affordability, reliability and security of the NSW energy system on the hope sufficient investment in like-for-like capacity could eventuate”. Coal fired power station closure the end of a polluting era Liddell Power Station in the NSW Hunter Valley and Torrens A near Adelaide are both at the end of their effective 50-year lives. He stood firm on the timing of the shutdown of the Liddell coal power station in NSW, committing to the closure of the last three units at the end of the 2022-23 summer. Richie Merzian, climate and energy director at the Australia Institute, said the report confirmed there was no basis for the “arbitrary” 1,000MW target. "Advice from TransGrid suggests there will be sufficient system strength to maintain a secure system when Liddell exits, under normal operations," it said. The taskforce found Liddell’s closure was likely to increase average wholesale electricity prices, but not as significantly as the rise experienced when Victoria’s Hazelwood plant shut in 2017. However, following an independent engineering assessment, AGL has determined that the remaining three units will close in April 2023, supporting system reliability throughout the 2022-23 summer months,”. AGL will also delay the closure of the Torrens A power station, which was expected to commence in 2019, with the mothballing of two of the power station’s four units. On Friday, the energy and emissions reduction minister, Angus Taylor, said the government’s position on Liddell was “well-known and has not changed”. Energy Insiders Podcast: Coalition’s revenge on RET, Labor’s solar stumble, It's time for Victoria to right the solar ship – before it sinks. In a statement to the ASX, AGL said that it had extended the life the 2,000MW coal-fired Liddell Power Station – along with that of the Torrens A power station in South Australia – to “help the national energy market cope with the critical summer months.”. "Replacing Liddell is the right decision to protect the reliability of our grid and the safety of the workers at Liddell," Mr Kean said. Mark Meadows' diagnosis means the virus has broken out in the White House for the second time, as the nation sets daily records for new cases. But it said it was seeking the permission of the South Australian government to continue to operate them over the coming summer. Mr Taylor said the government was in ongoing discussions with energy intensive industries about bringing down prices and ensuring reliability. The NSW energy minister, Matt Kean, said he supported the federal government’s decision to replace Liddell, rather than extend its life. Chief executive Brett Redman said Liddell will have "well and truly reached the end of its technical life" when the last three units close in April 2023, after 50 years of operation. "However, following an independent engineering assessment, AGL has determined that the remaining three units will close in April 2023, supporting system reliability throughout the 2022-23 summer months.". A new "Retailer Reliability Obligation" came into effect on July 1, compelling energy providers to meet demand for "despatchable, 24/7 power" and outlining penalties for any breaches. Earlier that same year, in March, AEMO also endorsed AGL Energy’s plans to replace Liddell with the above mix, describing them as more than enough to meet the potential shortfall created by the closure. Mr Redman also highlighted AGL's intentions to move into broadband and other data services even after dropping its proposal to take over Vocus. While AGL has previously stuck by the original 2022 timeframe, Federal Energy Minister Angus Taylor had warned the company of an energy shortfall should the plant be decommissioned that soon. Still, experts such as Bruce Mountain, director of the Victoria Energy Policy Centre, said the taskforce report was written in April and now seems dated given weaker price projections. However, the bid was never considered a genuine offer to acquire the power station. The decision to extend the life of three of the four Liddell units will come as some relief for Gladys Berejiklian's NSW government, which had been concerned about the political fallout from black-outs during the 2022-23 summer ahead of the March 2023 state election. Joe Biden says the people have spoken and handed him a mandate to combat COVID-19 and climate change, among other things. The prime minister said the government would give the private sector until the end of April 2021 to reach final investment decisions on that amount of power, and would step in if others did not. This is a sentiment that has been echoed by AEMO, which has previously raised the concern that ageing coal and gas generators are becoming less reliable and increasing the risk of outages. Mr Taylor cautiously welcomed the company's announcement on Friday. "We remain confident AGL can continue to evolve as a multi-product brandacross energy, data and related products and services," he said. It was the first of its kind to be located inland – far from the abundant salt water supplies traditionally used for cooling purposes. © 2020 Guardian News & Media Limited or its affiliated companies. Mr Hunt said the project was still going through the approvals process and AGL was yet to decide whether to proceed. “We remain in constructive dialogue with AGL about this, and this is a good short-term announcement. Thu 22 Mar 2018 13.00 EDT 17.21 EDT The Liddell power station in Muswellbrook, NSW, which is to close in 2022. “AGL has today informed AEMO that the first unit at Liddell will close in April 2022. "The Board believes it’s important that any transition of the energy sectortakes place in an orderly manner," Mr Hunt said in his formal address to shareholders.

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